Small Business Startup Package for Sole Proprietorship
About this form package
The Small Business Startup Package for Sole Proprietorship is a comprehensive collection of essential legal forms designed specifically for individuals starting a small business as sole proprietors. This package includes various commonly used documents at a significantly reduced price, providing the tools necessary for smooth business operations while minimizing legal risks. Compared to purchasing each form individually, this package offers a savings of over 75 percent, making it a cost-effective resource for new business owners.
Documents contained in this package
- Employment or Work Application - General
- Employment or Job Termination Agreement
- Internet Use Policy
- Stand Alone Confidentiality and Noncompetition Agreement with Employee
- Cash Disbursements and Receipts
- Check Request
- Daily Accounts Receivable
- Job Invoice - Short
- Purchase Invoice
- Employment Position Announcement
- Drug Testing Policy Disclosure and Consent Form
- Yearly Expenses by Quarter
- Petty Cash Form
- Purchasing Cost Estimate
- Self-Employed Independent Contractor Employment Agreement - General
- Noncompetition Agreement - Small Business
- General Trademark License Agreement
- Employment Agreement - General
- Employment Agreement with Covenant Not to Compete
- Employee Permission to Do a Background Check
- Profit and Loss Statement
- Consultant Agreement
State-specific requirements
This package includes general forms that can be adapted for use in different states. Since each state has its own laws, make any needed updates before completing them.
Common use cases
This form package is ideal for new business owners who need to establish their sole proprietorship and require the appropriate legal documentation to operate effectively. Use this package when:
- You are starting or have recently started a small business.
- You need to create necessary operational agreements, such as employment applications or confidentiality agreements.
- You want to ensure compliance with legal requirements and protect your business interests.
Who should use this form package
- Individuals planning to establish a sole proprietorship.
- Small business owners looking to streamline their legal documentation.
- Entrepreneurs who require foundational forms to recruit employees or engage contractors.
- Persons who want to maintain compliance with employment laws and establish internal policies.
Completing these forms step by step
- Review all the included forms to understand their purposes.
- Identify the specific forms needed for your business setup and operations.
- Fill in all required information, such as names, dates, and signatures where applicable.
- Ensure compliance with any state-specific rules or laws that may apply.
- Store completed forms securely to maintain their legal effectiveness.
Notarization requirements for forms in this package
Most forms in this package do not require notarization. However, local laws or specific situations may demand it. Our online notarization service, powered by Notarize, lets you complete the process through a verified video call, available anytime.
Typical mistakes to avoid
- Failing to complete all required fields in each form.
- Not reviewing state-specific requirements before submission.
- Using outdated forms that do not reflect current legal standards.
- Neglecting to keep a signed copy of each document for your records.
Benefits of using this package online
- Convenience of accessing essential legal forms from anywhere at any time.
- Immediate download capabilities, allowing for quick implementation.
- Editability of forms enables customization to meet specific business needs.
- Cost savings compared to individual form purchases, ensuring more resources for your business.
Form popularity
FAQ
Starting April 3, 2020, small businesses and sole proprietorships can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.
Your business plan should be shorter than 50 pages and should include the following sections: executive summary, which is written last; description of industry, including how you fit in; business model, describing your products and services; target market, describing who will buy from you and why; marketing model,
A sole proprietorship is unique because it's the only business that doesn't have to register with a state (with CIPC). All other business types partnerships, limited liability companies, and corporations must file a registration form with CIPC before they initiate business.
Having a business plan is a must, whether your goal is to start a one-person freelancing business or a multi-million dollar enterprise. However, if you are looking to start a simple product or service business as a sole proprietor or one-person corporation you don't need a 50-page business plan.
Since the sole proprietorship and its owner are considered identical, a sole proprietor can generally be defined as a small business when it comes to qualifying for a small business health insurance plan; however, if you have no employees but yourself, then your sole proprietorship will likely not qualify you for a
A sole proprietor is also not bound legally to publish firm's accounts. (iii) Direct Incentive The sole proprietor receives all the business profits as a reward for bearing the business risk. He/she is the single owner and does not need to share profit. This provides an incentive to the sole proprietor to work hard.
A business plan is a useful document for any small business owner.Going back to the original question of whether or not you really need a business plan, you may still be able to build a successful business without a plan, but it is most certainly easier to do with a well-constructed business plan in your hands.
You can use the PPP funds to pay yourself through what's called owner compensation share or proprietor costs. This is to compensate you for a loss of business income. To take the full amount of owner compensation share, you will have to use a covered period of at least 11 weeks weeks.
Complete the loan application form online at SBA. Gather required documents, including an income statement (February 2019 to January 2020). A loan officer may contact you after reviewing your credit to request additional documentation. If approved, you can either accept or decline the loan.